Twin Capital Management Inc. Sells 1,958 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Twin Capital Management Inc. lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 22.8% during the 4th quarter, HoldingsChannel reports. The firm owned 6,611 shares of the financial services provider’s stock after selling 1,958 shares during the quarter. Twin Capital Management Inc.’s holdings in Intercontinental Exchange were worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Lee Danner & Bass Inc. bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $34,000. BankPlus Trust Department bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $40,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $45,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $51,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $154.53 on Tuesday. The stock has a market cap of $88.78 billion, a P/E ratio of 32.33, a PEG ratio of 2.10 and a beta of 1.09. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $177.45. The company’s 50-day simple moving average is $168.37 and its 200 day simple moving average is $160.75.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Analyst Ratings Changes

Several brokerages recently weighed in on ICE. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays boosted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Bank of America decreased their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,563 shares of company stock worth $10,998,990. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.